Question
Suppose consumer 1s utility function is of form u1(x11, x21) = x11 + x21 (, > 0),andconsumer2sutilityfunctionisofformu2(x12,x22)=x12+x22. The initial endowments for consumers 1 and 2
Suppose consumer 1s utility function is of form u1(x11, x21) = x11 + x21 (, > 0),andconsumer2sutilityfunctionisofformu2(x12,x22)=x12+x22. The initial endowments for consumers 1 and 2 are (w11, w21) = (1, 2) and (w12, w22) = (2, 0), respectively.
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Financial Markets And Institutions
Authors: Jeff Madura
13th Edition
0357130790, 978-0357130797
